Relay_Station / Zone_39
MARKET
18.04.2026
Mitsui Subsidiary Launches Tokenized Metals on Optimism Mainnet
Zipangcoin, a regulated digital asset, has operated under Japan's stringent regulatory framework since its inception. Previously, ZPG was issued and managed on Miyabi, a proprietary private blockchain developed by the veteran Japanese centralized crypto exchange bitFlyer. The transition to a public blockchain like OP Mainnet underscores a strategic shift towards greater accessibility and interoperability within the broader decentralized finance (DeFi) ecosystem.
The decision by MDC to select Optimism's OP Mainnet was the culmination of extensive due diligence. This choice highlights the growing confidence among traditional financial institutions in the technical robustness and scalability of Layer 2 solutions for serious financial applications. Optimism's OP Stack chains, for instance, processed over 6 billion transactions in 2025, representing a remarkable 29x growth in just two years.
Sho Miichi, MDC's representative director and president, emphasized the foundational strength of Zipangcoin, which stems from the safety and transparency meticulously built under Japan's rigorous regulatory framework since 2022. He further stated the company's pleasure in partnering with Optimism to deliver a high-quality, commodity-linked digital asset from Japan to a worldwide investor base.
Industry observers note that Japan's clear regulatory environment has positioned it as one of the most compelling markets for on-chain finance. Kyle Jenke, chief business officer at OP Labs, remarked that Zipangcoin's launch on Optimism aligns perfectly with the current trend of institutional assets migrating onto public blockchain infrastructure. This particular deployment is significant as it represents the first cryptoasset issued by a Japanese company to debut on OP Mainnet.
The move from a closed private blockchain environment to a public, permissionless network is not merely a technical upgrade; it represents a fundamental shift in MDC’s distribution strategy. The immediate implication for investors is enhanced accessibility and potential for integration with a wider array of DeFi applications, including lending, trading, or use as collateral. This efficiency is expected to attract both new and experienced crypto participants, fostering broader adoption of tokenized assets.
The tokenization of real-world assets (RWAs) has seen explosive growth, with on-chain tokenized RWAs tripling to approximately $18.6 billion throughout 2025, according to some analyses. Projections indicate this market could swell to $2 trillion by 2030, with a significant portion attributed to distributed tokenized RWA markets on public chains.
Further solidifying its market presence, the Japanese centralized exchange GMO Coin is scheduled to list ZPG for trading on April 20, 2026. This listing is expected to provide increased liquidity and visibility for Zipangcoin, allowing a broader investor base to access the tokenized precious metals.
The OP Mainnet currently boasts a total value locked in DeFi exceeding $393 million, positioning it as the 17th largest chain in the DeFi landscape. Its stablecoin market capitalization approaches $579 million, with a 30-day decentralized exchange volume exceeding $623 million. These metrics highlight the robust ecosystem ZPG is now entering, providing a solid foundation for its growth and adoption.
MDC’s initiative with Zipangcoin represents a pivotal moment in bridging traditional finance with decentralized blockchain technologies. It demonstrates how regulated financial instruments, backed by tangible physical assets, are finding their place within the rapidly evolving Web3 landscape. The integration creates new opportunities for both retail and institutional participants, offering the timeless value of commodities combined with the efficiency and programmability of digital assets.
The trajectory for tokenized assets appears set for continued expansion, with more companies likely to follow Mitsui's lead in bringing additional commodities onto blockchain networks. This growth could significantly increase the diversity of tokenized assets and enhance overall market liquidity. The question remains how quickly other major conglomerates will embrace public blockchain infrastructure for their own real-world asset portfolios.
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